India is the 5th Largest Retail Destination Globally
The Indian retail market, which is the fifth largest retail harbour globally, has been ranked as the most attractive emerging market for investment in the retail sector by the eighth annual Global Retail Development Index (GRDI), in 2009. The retail sector contributes about 10 percent to the GDP compared to 8 percent in China, 6 percent in Brazil and a matching 10 percent in the US. The facts that show India’s contribution to the retail sector clearly depicts the opportunities available in the Indian market which can be tapped by investors easily and money can be made mutually. India although viewed as developing nation but taking into consideration the developments taking into place in our country there is no doubt that sooner will join the group the developed nations group for soon. With rising consumer demand and greater disposable income, the US$ 400 billion Indian retail sector is expected to reach US$ 550 billion by 2014. Population expansion, the increasing wealth of individuals and the rapid construction of organized retail infrastructure are key factors behind the forecast growth.
It is said that India has been topping the AT Kearney's annual Global Retail Development Index (GRDI) for three consecutive years, thus presenting itself as an attractive market for retail investment. Of the 12 million retail outlets present in the country, nearly 5 million sell food and related products.
But it is said to see the retail sector being dominated by unorganized players in the market. From all the retail outlets almost 5 billion sell food related products.
The reasons for the retail culture being on high relates to the reasons like induction of shopping mall concept in India; your status associated with shopping, and now a day’s malls are viewed as point of social interaction. Hence tapping the above benefits and points into mind the future for India’s retail sector seems to be bright. BMI (Business Monitor International) is anticipating the strongest growth in India’s hypermarket sector, with sales set to grow by an explosive 1025% to reach US$1.35bn in 2011. Supermarket sales will increase by 119.1%, discount stores by 242.9% and convenience stores by 134.1%.
To put on more cynosures over the retail sector in India taking into consideration the following points would be of benefit to all of us. Improving consumer insights and having a proper database of information and the resource should be available with the consumers so that at least they have the info of what is happening around and what new is being made available to them, apart from the above development of an adequate supply chain is also essential for efficient functioning of logistics, as well as having an well develop human infrastructure is also wanted.
More the consumers spend more the demand number to pop up. And the demand rises because of the more amount of money available with the human population to dispose off. Apart from the increased income the availability of credit and with the propagation of the concept of concept wherein even the women contributes to the household are the very reasons for the same.
The origins of Kishore Biyani’s Future Cluster will be traced to 1987 when the corporate was incorporated as Manz Wear Non-public Limited. Its initial retail outlet christened “Pantaloons” opened in 1994. Since then, the cluster has expanded to various niche retail segments and plans to attain revenues of Rs30,000 crore (US$7.zero billion) by 2010. Bharti Enterprises, which has pledged with Wal-Mart for back-end operations, will invest US$2-2.five billion by 2015 in its retail operations, and Mukesh Ambani lead Reliance Retail is rolling out a US$6.three billion initiative to set up department and specialty stores for footwear, jewellery, books, music, and apparel. Within the health and sweetness phase, Indian major, Dabur, has founded its “New U” branded stores with an initial investment of US $ thirty five million.
However with smarter men and women in the market the talent house will release more new ideas in the market. Thus not only helping in gaining momentum in retail but many other sectors too.
The Indian retail market, which is the fifth largest retail harbour globally, has been ranked as the most attractive emerging market for investment in the retail sector by the eighth annual Global Retail Development Index (GRDI), in 2009. The retail sector contributes about 10 percent to the GDP compared to 8 percent in China, 6 percent in Brazil and a matching 10 percent in the US. The facts that show India’s contribution to the retail sector clearly depicts the opportunities available in the Indian market which can be tapped by investors easily and money can be made mutually. India although viewed as developing nation but taking into consideration the developments taking into place in our country there is no doubt that sooner will join the group the developed nations group for soon. With rising consumer demand and greater disposable income, the US$ 400 billion Indian retail sector is expected to reach US$ 550 billion by 2014. Population expansion, the increasing wealth of individuals and the rapid construction of organized retail infrastructure are key factors behind the forecast growth.
It is said that India has been topping the AT Kearney's annual Global Retail Development Index (GRDI) for three consecutive years, thus presenting itself as an attractive market for retail investment. Of the 12 million retail outlets present in the country, nearly 5 million sell food and related products.
But it is said to see the retail sector being dominated by unorganized players in the market. From all the retail outlets almost 5 billion sell food related products.
The reasons for the retail culture being on high relates to the reasons like induction of shopping mall concept in India; your status associated with shopping, and now a day’s malls are viewed as point of social interaction. Hence tapping the above benefits and points into mind the future for India’s retail sector seems to be bright. BMI (Business Monitor International) is anticipating the strongest growth in India’s hypermarket sector, with sales set to grow by an explosive 1025% to reach US$1.35bn in 2011. Supermarket sales will increase by 119.1%, discount stores by 242.9% and convenience stores by 134.1%.
To put on more cynosures over the retail sector in India taking into consideration the following points would be of benefit to all of us. Improving consumer insights and having a proper database of information and the resource should be available with the consumers so that at least they have the info of what is happening around and what new is being made available to them, apart from the above development of an adequate supply chain is also essential for efficient functioning of logistics, as well as having an well develop human infrastructure is also wanted.
More the consumers spend more the demand number to pop up. And the demand rises because of the more amount of money available with the human population to dispose off. Apart from the increased income the availability of credit and with the propagation of the concept of concept wherein even the women contributes to the household are the very reasons for the same.
The origins of Kishore Biyani’s Future Cluster will be traced to 1987 when the corporate was incorporated as Manz Wear Non-public Limited. Its initial retail outlet christened “Pantaloons” opened in 1994. Since then, the cluster has expanded to various niche retail segments and plans to attain revenues of Rs30,000 crore (US$7.zero billion) by 2010. Bharti Enterprises, which has pledged with Wal-Mart for back-end operations, will invest US$2-2.five billion by 2015 in its retail operations, and Mukesh Ambani lead Reliance Retail is rolling out a US$6.three billion initiative to set up department and specialty stores for footwear, jewellery, books, music, and apparel. Within the health and sweetness phase, Indian major, Dabur, has founded its “New U” branded stores with an initial investment of US $ thirty five million.
However with smarter men and women in the market the talent house will release more new ideas in the market. Thus not only helping in gaining momentum in retail but many other sectors too.